Core Viewpoint - A class action lawsuit has been filed against Ready Capital Corporation for misleading statements regarding its financial health and non-performing loans during the specified Class Period from November 7, 2024, to March 2, 2025 [1][5]. Group 1: Lawsuit Details - The lawsuit claims that Ready Capital made false and/or misleading statements about significant non-performing loans in its commercial real estate portfolio, which were not likely to be collectible [5]. - It is alleged that Ready Capital would fully reserve these problem loans to stabilize its portfolio, which was not accurately reflected in its expected credit loss or valuation allowances [5]. - The misleading statements resulted in adverse effects on Ready Capital's financial results, impacting the company's positive outlook on its business and operations [5]. Group 2: Participation Information - Shareholders who purchased Ready Capital securities during the Class Period may be entitled to compensation without any out-of-pocket fees through a contingency fee arrangement [2]. - Interested parties can join the class action by visiting the provided link or contacting the law firm directly for more information [3][6]. - A lead plaintiff must file a motion with the court by May 5, 2025, to represent other class members in the litigation [1][3]. Group 3: Law Firm Credentials - The Rosen Law Firm has a strong track record in securities class actions, having achieved significant settlements, including the largest securities class action settlement against a Chinese company at the time [4]. - The firm has consistently ranked highly in securities class action settlements and has recovered hundreds of millions of dollars for investors [4]. - In 2019, the firm secured over $438 million for investors, showcasing its capability in handling such cases [4].

Core Viewpoint - A class action lawsuit has been filed against Ready Capital Corporation for misleading statements regarding its financial health and non-performing loans during the specified Class Period from November 7, 2024, to March 2, 2025 [1][5]. Group 1: Lawsuit Details - The lawsuit claims that Ready Capital made false and/or misleading statements about significant non-performing loans in its commercial real estate portfolio, which were not likely to be collectible [5]. - It is alleged that Ready Capital would fully reserve these problem loans to stabilize its portfolio, but this was not accurately reflected in its expected credit loss or valuation allowances [5]. - As a result of these issues, Ready Capital's financial results were adversely affected, and its positive statements about the company's business and prospects were materially misleading [5]. Group 2: Class Action Participation - Shareholders who purchased Ready Capital securities during the Class Period may be entitled to compensation without any out-of-pocket fees through a contingency fee arrangement [2]. - Interested parties can join the class action by visiting the provided link or contacting the law firm directly [3][6]. - A lead plaintiff must move the Court by May 5, 2025, to represent other class members in the litigation [1][3]. Group 3: Law Firm Credentials - The Rosen Law Firm has a strong track record in securities class actions, having achieved significant settlements, including the largest securities class action settlement against a Chinese company at the time [4]. - The firm has been consistently ranked among the top firms for securities class action settlements and has recovered hundreds of millions of dollars for investors [4].

SAN DIEGO, March 11, 2025 /PRNewswire/ -- Robbins Geller Rudman & Dowd LLP announces that purchasers or acquirers of Ready Capital Corporation (NYSE: RC) common stock between November 7, 2024 and March 2, 2025, both dates inclusive (the "Class Period"), have until May 5, 2025 to seek appointment as lead plaintiff of the Ready Capital class action lawsuit.  Captioned Quinn v. Ready Capital Corporation, No. 25-cv-01883 (S.D.N.Y.), the Ready Capital class action lawsuit charges Ready Capital as well as certain ...

NEW YORK, March 11, 2025 /PRNewswire/ -- Pomerantz LLP announces that a class action lawsuit has been filed against Ready Capital Corporation ("Ready" or the "Company") (NYSE: RC). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.The class action concerns whether Ready and certain of its officers ...

Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $50,000 In Ready Capital To Contact Him Directly To Discuss Their Options If you suffered losses exceeding $50,000 in Ready Capital between November 7, 2024 and March 2, 2025 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). [You may also click here for additional information] NEW YORK, March 11, 2 ...

Core Viewpoint - A class action lawsuit has been filed against Ready Capital Corporation for allegedly misleading investors regarding the collectability of certain loans in its commercial real estate portfolio [1][2]. Company Overview - Ready Capital Corporation is a real estate finance company that focuses on originating, acquiring, financing, and servicing lower-to-middle-market commercial real estate loans, small business administration loans, residential mortgage loans, and other real estate-related investments [1]. Allegations - The lawsuit claims that during the class period, Ready Capital failed to disclose significant non-performing loans in its commercial real estate portfolio that were unlikely to be collectible [2]. - It is alleged that the company fully reserved these problem loans to stabilize its portfolio, which was not accurately reflected in its expected credit loss or valuation allowances [2]. - Consequently, the company's financial results were adversely affected, leading to a significant net loss reported for the fourth quarter and full year of 2024 [2]. Financial Performance - On March 3, 2025, Ready Capital reported a fourth quarter net loss of $1.80 per share and a full year net loss of $2.52 per share for 2024 [3]. - Following the announcement of these losses and the decision to reserve for non-performing loans, Ready Capital's stock price dropped by $1.86, or 26.8%, closing at $5.07 per share [3].

Core Viewpoint - The Ready Capital Corporation is facing a class action lawsuit due to alleged violations of the Securities Exchange Act of 1934, with claims that the company misrepresented its financial health during a specific period [1][3]. Group 1: Class Action Lawsuit Details - The class action lawsuit is titled Quinn v. Ready Capital Corporation, and it involves purchasers of Ready Capital common stock from November 7, 2024, to March 2, 2025 [1]. - Investors have until May 5, 2025, to seek appointment as lead plaintiff in the lawsuit [1]. - The lawsuit alleges that Ready Capital made false or misleading statements regarding the collectability of significant non-performing loans in its commercial real estate portfolio [3]. Group 2: Financial Impact and Company Performance - On March 3, 2025, Ready Capital reported a fourth quarter 2024 net loss of $1.80 per share and a full year 2024 net loss of $2.52 per share, attributing this to the need for decisive actions to stabilize its balance sheet [4]. - The company took $284 million in combined Current Expected Credit Loss and valuation allowances to adjust the value of its non-performing loans [4]. - Following the announcement of these financial results, Ready Capital's stock price fell nearly 27% [4]. Group 3: Legal Representation and Process - The Private Securities Litigation Reform Act of 1995 allows any investor who purchased Ready Capital common stock during the class period to seek appointment as lead plaintiff [5]. - The lead plaintiff will represent the interests of all class members and can choose a law firm to litigate the case [5]. Group 4: About Robbins Geller - Robbins Geller Rudman & Dowd LLP is a leading law firm specializing in securities fraud cases, having recovered $6.6 billion for investors in such cases [6]. - The firm has been ranked 1 in securing monetary relief for investors in six out of the last ten years [6].

Core Viewpoint - UDF IV shareholders have approved the merger with Ready Capital Corporation, marking a significant milestone for UDF IV and its shareholders, with expectations of immediate value and long-term potential from the transaction [1][2]. Company Overview - United Development Funding IV (UDF IV) is a Maryland real estate investment trust focused on generating current interest income through secured loans and profits from residential real estate investments [3]. Merger Details - The merger was approved at a Special Meeting where 18,781,459 shares, or 61.2% of the total 30,677,003 shares, were voted. Approximately 58.3% of the outstanding shares voted in favor, representing 95.3% of the votes cast [2][4]. - The merger is expected to close in the first quarter of 2025, pending customary closing conditions [2][4].

Steep Decline in RC Stock Price Following Q4 2024 Earnings Release Has Potential to Erase More Than $30 Million in Value for UDF IV Shareholders Under Proposed Merger NexPoint Urges Board to Reconsider Hasty Rejection of NexPoint's Proposal and Postpone Special Meeting to Properly Evaluate Transactions on Behalf of Shareholders DALLAS, March 3, 2025 /PRNewswire/ -- NexPoint Real Estate Opportunities, LLC (together with its affiliates "NexPoint") today provided an update on United Development Funding IV ("UD ...

Investment and Market Risks - The company anticipates a significant portion of its investments will be in lower-to-middle-market (LMM) loans, which are subject to credit risks[11]. - Interest rate fluctuations may adversely affect the company's net income and the value of its assets and common stock[12]. - The company is exposed to liquidity risk, which includes the inability to fund acquisition and origination activities at settlement dates[529]. - The company faces credit risk related to investments in LMM loans, particularly those made to self-employed borrowers[12]. - The company is subject to various market risks, including adverse changes in interest rates and market values of financial instruments[521]. - The estimated fair value of fixed-rate investments is expected to decrease in a rising interest rate environment, affecting the company's economic exposure[533]. - The company is exposed to counterparty risk if lenders default on obligations related to repurchase agreements, with collateral typically exceeding borrowings[534]. - Interest rate swaps are utilized to mitigate risks associated with changing interest rates, involving variable-rate interest payments in exchange for fixed-rate payments[535]. - The company has entered into over-the-counter interest rate swap agreements, exposing it to counterparty performance risk if the counterparty defaults[536]. Financial Performance - Total assets decreased from $12,441,217 thousand as of December 31, 2023, to $10,141,921 thousand as of December 31, 2024, representing a decline of approximately 18.5%[564]. - Net interest income before provision for loan losses fell from $229,346 thousand in 2023 to $200,520 thousand in 2024, a decrease of about 12.6%[565]. - Provision for loan losses significantly increased to $292,759 thousand in 2024 from $7,230 thousand in 2023, indicating a substantial rise in expected credit losses[565]. - Net income (loss) attributable to Ready Capital Corporation was $(443,751) thousand in 2024, compared to $331,454 thousand in 2023, marking a shift from profit to loss[565]. - Total non-interest income (expense) turned negative at $(101,765) thousand in 2024, down from a positive $408,468 thousand in 2023[565]. - The company reported a comprehensive loss of $(436,327) thousand in 2024, compared to a comprehensive income of $330,943 thousand in 2023[567]. - Earnings per common share from continuing operations (basic) dropped to $(2.52) in 2024 from $2.27 in 2023, reflecting a significant decline in profitability[565]. - The company declared dividends of $1.10 per share of common stock in 2024, down from $1.46 in 2023[565]. Acquisitions and Mergers - The company completed the acquisition of Funding Circle USA, Inc. for approximately $41.2 million in cash, enhancing its small business loan offerings[577]. - Ready Capital entered into a merger agreement with United Development Funding IV, expected to close in the first half of 2025, which will increase its equity capital base to over $2.2 billion[576]. - The company acquired Madison One for an initial purchase price of approximately $32.9 million, focusing on USDA and SBA guaranteed loan products[579]. - The Broadmark Merger expanded the Company's residential and commercial construction lending platforms, diversifying its business[585]. - The Broadmark Merger completed on May 31, 2023, had a total consideration of $637,229,000, with net assets acquired valued at $826,895,000 and a bargain purchase gain of $189,666,000[695][698]. Loan Portfolio and Credit Quality - Total loans, net decreased from $10,713,084 thousand in December 2023 to $8,549,836 thousand in December 2024, representing a decline of approximately 20.2%[701]. - The percentage of loans outstanding that are current increased to 93.7% in December 2024 from 89.8% in December 2023, reflecting an improvement in loan performance[707]. - Delinquency rates for loans 30-59 days past due were 1.6% in December 2024, consistent with the previous year, while loans 60+ days past due increased to 4.7%[707]. - The company continues to monitor credit quality indicators, with a focus on delinquency rates and loan-to-value ratios to assess borrower capacity and willingness to meet financial obligations[702]. Regulatory and Operational Constraints - The company must maintain its qualification as a real estate investment trust (REIT), which imposes operational limits[12]. - The company is required to distribute a significant portion of taxable income annually, constraining its ability to accumulate operating cash flow[541]. - The company maintains its REIT status by distributing at least 90% of its taxable income to shareholders[586]. Risk Management and Internal Controls - The company maintained effective internal control over financial reporting as of December 31, 2024, according to the audit opinion[556]. - The company utilizes loan loss forecasting models, including a probability of default method and a probability-weighted expected cash flow method, to estimate expected lifetime credit losses[599]. - The company utilizes derivative financial instruments, such as interest rate swaps and FX forwards, as part of its risk management strategy[614].